GitLab Inc. (NASDAQ:GTLB) Stock Has Consensus Target Price of $52.33 According to Brokerages

Shares of GitLab Inc. (NASDAQ:GTLB) have been assigned an average rating of “Hold” from the twenty-eight analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eighteen have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $52.33.

GTLB has been the subject of a number of recent research reports. Needham & Company LLC boosted their target price on GitLab from $38.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GitLab in a research note on Wednesday, September 2nd. Zacks Research upgraded shares of GitLab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Canaccord Genuity Group lifted their price target on shares of GitLab from $40.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Guggenheim reissued a “neutral” rating on shares of GitLab in a research note on Wednesday, September 2nd.

GitLab Stock Performance

Shares of GTLB stock opened at $47.32 on Friday. The stock’s fifty day moving average is $51.03 and its 200-day moving average is $34.74. GitLab has a 52 week low of $18.73 and a 52 week high of $58.01.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The business had revenue of $286.25 million for the quarter, compared to the consensus estimate of $273.13 million. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. As a group, analysts predict that GitLab will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GitLab news, CTO Sivaprasad Padisetty sold 51,915 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $45.78, for a total transaction of $2,376,668.70. Following the completion of the sale, the chief technology officer owned 377,211 shares in the company, valued at approximately $17,268,719.58. The trade was a 12.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 980,710 shares of the stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $48.63, for a total value of $47,691,927.30. Following the completion of the transaction, the director directly owned 13,921,341 shares in the company, valued at approximately $676,994,812.83. This trade represents a 6.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,284,315 shares of company stock worth $109,656,918. Insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in GitLab by 55.3% in the first quarter. Bank of America Corp DE now owns 1,955,648 shares of the company’s stock valued at $42,320,000 after purchasing an additional 696,096 shares during the last quarter. California State Teachers Retirement System lifted its stake in GitLab by 21.7% in the first quarter. California State Teachers Retirement System now owns 154,699 shares of the company’s stock valued at $3,348,000 after buying an additional 27,624 shares during the period. First Trust Advisors LP boosted its holdings in GitLab by 19.7% during the first quarter. First Trust Advisors LP now owns 1,893,926 shares of the company’s stock worth $40,985,000 after buying an additional 312,312 shares during the last quarter. Carmignac Gestion boosted its holdings in GitLab by 55.8% during the second quarter. Carmignac Gestion now owns 1,475,612 shares of the company’s stock worth $45,050,000 after buying an additional 528,612 shares during the last quarter. Finally, State Street Corp boosted its holdings in GitLab by 3.2% during the second quarter. State Street Corp now owns 2,632,173 shares of the company’s stock worth $80,351,000 after buying an additional 81,807 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

About GitLab

GitLab Inc. develops a software platform that helps organizations manage the software development lifecycle. Its tools support planning, source-code management, collaboration, continuous integration and delivery, security testing, and application monitoring. The GitLab platform brings these capabilities together in a single application, available as a cloud-hosted service or for customers to install and manage in their own environments. The company serves organizations in a range of industries and geographies, from individual developers to large enterprises.